Facebook Preferred Marketing Developer Optimal today announced that it raised $7 million in a Series B round and hired a chief financial officer.

Paul Suh, former SVP of Finance and Operations at digital commerce and video gaming advertising company LiveGamer is taking the CFO position at Optimal, which has more than 30 employees and offices in San Francisco, New York and Palo Alto.

Optimal offers self-service and managed services for Facebook advertising and social analytics. The company has access to all of Facebook’s ad types, including the highly buzzed about Facebook Exchange. For business and marketing insights, Optimal offers Keyword Expander, Keyword Explorer, Optimal Index and Audience Matrix. The company has Facebook PMD badges in Ads and Apps, and with its latest platform including analytics on page and post activity, it is looking to gain the Insights badge this year.

CEO Rob Leathern says Optimal has quadrupled its revenue from social media advertising year over year, and that the company is looking to grow its sales/marketing and engineering teams with the investment.

Existing investors Neu Ventures, Stonnington Asset Allocation Fund and WGI Group participated in the round, as well as new investors DoubleRock,The Social Internet Fund, Siemer Ventures, Signal Ventures, John Pappajohn, Warren Adelman, Social Starts, James Altucher and Silicon Valley Bank. Investors James Altucher, an early investor in Buddy Media, and Suraj Kumar Rajwani from DoubleRock are joining the company’s board of directors as part of the funding deal.